KarmaKaguy
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Activity: 59
Merit: 0
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June 27, 2014, 01:19:34 PM |
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At this miserable price of 2-3 Satoshi, I can't pay my bill for electricity !
Who will be insane to mine at lose KARM anymore?
When was the last time you experienced an instant price increase right after a halving? Karma has achieved massive growth in value over the past 2 months. It has gone from dead to most profitable scrypt coin before the reduction. Let us rest for a few more hours, then we can start gaining price again to make your coins worth the electricity they cost. If you need instant LTC, I guess you'll have to mine elsewhere for a little while. If you can afford to hold your coins a while, stick with us. This good coin has achieved so much in so little time, and the journey has just started IMO... next station... andromeda galaxy |
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p4r4m0un7
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June 27, 2014, 01:50:45 PM |
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If Mintpal asked for stable 150 Litoshi course for KARM, how much do you estimate the pair KARM/BTC ?
Based on current BTC/LTC levels the price would equal a BTC worth of ~2.5 satoshi. Recent trends (several spikes above 200 litoshi) would put price more in the area of 3 sat, selling cheaper than that would mean a significant loss compared to selling on the LTC market. At this miserable price of 2-3 Satoshi, I can't pay my bill for electricity ! Who will be insane to mine at lose KARM anymore? I know many miners personally and way more virtually. No one of them got anything more than a little on top of the electricity bill. And I am not talking only for small time operations like 2 rigs and 6 cards, but also for investments of hundreds of GPU`s and asics. When this coin was 8-11 litoshi price and almost a million could be mined for a day with a single GPU, my fellows continue to mine and dump shitcoins. I have tipped them with more than 100 mill almost with no effect and no one came on board. When 2000% increase was steady gained in a just 2 months all of them were asking me which is the best KARMA pool and so on. Meanwhile I was buying and mining KARMA. They didn`t learn anything from the bitcoin history. This game is simple - find the best coin and stick with it. So, ask yourself why are you mining. To pay the bill? Is this smart? Are you working for electricity company? If you expect to mine today and dump tomorrow, then brother I am telling you, that this is the wrong time and place for you. The altcoins boom from January-March is over. OVER. We all now see everyday coins just bump, go to a big exchange, dump and that is it. KARMA is for the long run. That was said many times, so read it carefully and try to understand it. Surely it was difficult for me to get it. KARMA was born on 4 February and I am still with it. And I will be with it for long time. If you want to be part of this exciting journey, don`t stop to mine. Do not think that if the price is 3,4,5, 50, 100 satoshi, it will be the same tomorrow. I am sure that you are and have been mining many coins. Look back at them and see what they had. Nothing. Now look at KARMA. Go to forums, Karmashares, try out http://www.lill.com/. Learn what has been done and what is in front of KARMA. See who is doing it and how this community is organized, etc, etc. Than try to find another coin with the same qualities. If you do, PM me, so I can get on board. I am big PITA and if a guy like me is with KARMA, believe me, you should be also. And your friends miners should come with us. This is huge. Do not just believe, see it for yourself. |
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easteagle13
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June 27, 2014, 02:23:08 PM |
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If Mintpal asked for stable 150 Litoshi course for KARM, how much do you estimate the pair KARM/BTC ?
Based on current BTC/LTC levels the price would equal a BTC worth of ~2.5 satoshi. Recent trends (several spikes above 200 litoshi) would put price more in the area of 3 sat, selling cheaper than that would mean a significant loss compared to selling on the LTC market. At this miserable price of 2-3 Satoshi, I can't pay my bill for electricity ! Who will be insane to mine at lose KARM anymore? I know many miners personally and way more virtually. No one of them got anything more than a little on top of the electricity bill. And I am not talking only for small time operations like 2 rigs and 6 cards, but also for investments of hundreds of GPU`s and asics. When this coin was 8-11 litoshi price and almost a million could be mined for a day with a single GPU, my fellows continue to mine and dump shitcoins. I have tipped them with more than 100 mill almost with no effect and no one came on board. When 2000% increase was steady gained in a just 2 months all of them were asking me which is the best KARMA pool and so on. Meanwhile I was buying and mining KARMA. They didn`t learn anything from the bitcoin history. This game is simple - find the best coin and stick with it. So, ask yourself why are you mining. To pay the bill? Is this smart? Are you working for electricity company? If you expect to mine today and dump tomorrow, then brother I am telling you, that this is the wrong time and place for you. The altcoins boom from January-March is over. OVER. We all now see everyday coins just bump, go to a big exchange, dump and that is it. KARMA is for the long run. That was said many times, so read it carefully and try to understand it. Surely it was difficult for me to get it. KARMA was born on 4 February and I am still with it. And I will be with it for long time. If you want to be part of this exciting journey, don`t stop to mine. Do not think that if the price is 3,4,5, 50, 100 satoshi, it will be the same tomorrow. I am sure that you are and have been mining many coins. Look back at them and see what they had. Nothing. Now look at KARMA. Go to forums, Karmashares, try out http://www.lill.com/. Learn what has been done and what is in front of KARMA. See who is doing it and how this community is organized, etc, etc. Than try to find another coin with the same qualities. If you do, PM me, so I can get on board. I am big PITA and if a guy like me is with KARMA, believe me, you should be also. And your friends miners should come with us. This is huge. Do not just believe, see it for yourself. Well said like a poem. |
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youseeberkeley
Member
Offline
Activity: 106
Merit: 10
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June 27, 2014, 04:48:41 PM |
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If Mintpal asked for stable 150 Litoshi course for KARM, how much do you estimate the pair KARM/BTC ?
Based on current BTC/LTC levels the price would equal a BTC worth of ~2.5 satoshi. Recent trends (several spikes above 200 litoshi) would put price more in the area of 3 sat, selling cheaper than that would mean a significant loss compared to selling on the LTC market. At this miserable price of 2-3 Satoshi, I can't pay my bill for electricity ! Who will be insane to mine at lose KARM anymore? I know many miners personally and way more virtually. No one of them got anything more than a little on top of the electricity bill. And I am not talking only for small time operations like 2 rigs and 6 cards, but also for investments of hundreds of GPU`s and asics. When this coin was 8-11 litoshi price and almost a million could be mined for a day with a single GPU, my fellows continue to mine and dump shitcoins. I have tipped them with more than 100 mill almost with no effect and no one came on board. When 2000% increase was steady gained in a just 2 months all of them were asking me which is the best KARMA pool and so on. Meanwhile I was buying and mining KARMA. They didn`t learn anything from the bitcoin history. This game is simple - find the best coin and stick with it. So, ask yourself why are you mining. To pay the bill? Is this smart? Are you working for electricity company? If you expect to mine today and dump tomorrow, then brother I am telling you, that this is the wrong time and place for you. The altcoins boom from January-March is over. OVER. We all now see everyday coins just bump, go to a big exchange, dump and that is it. KARMA is for the long run. That was said many times, so read it carefully and try to understand it. Surely it was difficult for me to get it. KARMA was born on 4 February and I am still with it. And I will be with it for long time. If you want to be part of this exciting journey, don`t stop to mine. Do not think that if the price is 3,4,5, 50, 100 satoshi, it will be the same tomorrow. I am sure that you are and have been mining many coins. Look back at them and see what they had. Nothing. Now look at KARMA. Go to forums, Karmashares, try out http://www.lill.com/. Learn what has been done and what is in front of KARMA. See who is doing it and how this community is organized, etc, etc. Than try to find another coin with the same qualities. If you do, PM me, so I can get on board. I am big PITA and if a guy like me is with KARMA, believe me, you should be also. And your friends miners should come with us. This is huge. Do not just believe, see it for yourself. More people need to understand this +1 |
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Instamatic
Newbie
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Activity: 56
Merit: 0
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June 27, 2014, 04:58:29 PM |
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If Mintpal asked for stable 150 Litoshi course for KARM, how much do you estimate the pair KARM/BTC ?
Based on current BTC/LTC levels the price would equal a BTC worth of ~2.5 satoshi. Recent trends (several spikes above 200 litoshi) would put price more in the area of 3 sat, selling cheaper than that would mean a significant loss compared to selling on the LTC market. At this miserable price of 2-3 Satoshi, I can't pay my bill for electricity ! Who will be insane to mine at lose KARM anymore? Is it just me? When I see comments like this I picture somebody mining and immediately selling and converting to fiat. Which does very little to further the progress of cryptocurrency as a whole. But I guess plenty of the users of this forum could be doing that as many showed up simply for the "easy money". |
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bitwho
Legendary
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Activity: 1274
Merit: 1000
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June 27, 2014, 05:17:51 PM |
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Hello!
I used to mine KARM and sell it for LTC on Mintpal for 200 Litoshi, but the reward per block was much higher ( ~100k) and because of this worked.
Now if I want to buy 1 LTC I must spend >600k of KARM @ 160 Litoshi, but the reward per block was reduced to 35,000 KARM per block...
Actually I must spend the entire reward of 18-19 blocks of KARM for 1 LTC !
If Mintpal asked for stable 150 Litoshi course for KARM, how much do you estimate the pair KARM/BTC ?
Hi, How long did you mine in p2p pool ? There are a lot of factors to take in account. I will try to explain. When you mine in two pools , pool A and Pool B, what you will make a day on average should be the same. the key word is on average. For example if day 1 you join pool A which mines with 100 Mhs and you mine 10mils coins in 24 hrs and on day 2 you join pool B which mines at 80 Mh/s and you saw you got 9 Mis coin for 24 hrs yo should scream faul. this can happen because Pool B has lesser hashrate and it probably needed some more time then 24 hrs to give you the same payout. this is basic statistics. But there is also luck. one day Pool A could find double the blocks and an other day no blocks at all. Same goes for pool B. but luck factor is moslty a %25 off. it could be %25 more one day and %25 off an other. Therefore if you mine on pool A for a longer time , let saw a week, you will mine the same coins in pool B at the end of the week. Therefore since our p2p pool is still new and has less hashrate , you were suppose to make less coin than staying in the other pool. This is why we have donated coins and are paying a %20 bonus. So it will fill in the void and make you get as much coin as the other pools. So get the same amount of coin for now while helping out keep our system stable. Eventually when more and more people join the p2p pool , it will be the pool with more hash and it will start to find more coins per day. Then mining at this pool will start to get you more coins |
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bitwho
Legendary
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Activity: 1274
Merit: 1000
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June 27, 2014, 05:31:10 PM |
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Instamatic
Newbie
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Activity: 56
Merit: 0
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June 27, 2014, 05:33:47 PM |
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Nice! Long time Karma supporter here (just not vocally on the forums, but a little over on reddit). I like the move to X11 from an energy efficiency viewpoint but it feels more like an anti-ASIC move. ASIC's are far more energy efficient than GPU's or CPU's so a combo of the 2 will be best for a sustainable cryptocurrency future. *disclaimer: I own no ASIC hardware, just offering my opinion. I also think the 2 year estimation for ASIC introduction to X11 is pretty far off. Considering DarkCoin is trading in the $10-$13 USD range and the popularity of other X11 coins I would expect it to happen sooner. Early next year if not the end of this year. Again, just my non-expert prediction. Either way, good news for now and looking forward to more mining. |
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kosmost
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June 27, 2014, 05:37:58 PM |
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The benefit of Karmashares, though, is that we have a "big daddy" that can take care of Karma-related expenses.
Like when Kos talks about big daddy like that.  er, I meant Karma has a big daddy in Karmashares  |
Workchain – Powering the Decentralized Economy
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youseeberkeley
Member
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Activity: 106
Merit: 10
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June 27, 2014, 05:39:40 PM |
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Woo great news! I'm interested to hear about the sidechain business ahah. |
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bitwho
Legendary
Offline
Activity: 1274
Merit: 1000
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June 27, 2014, 05:57:11 PM |
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Nice! Long time Karma supporter here (just not vocally on the forums, but a little over on reddit). I like the move to X11 from an energy efficiency viewpoint but it feels more like an anti-ASIC move. ASIC's are far more energy efficient than GPU's or CPU's so a combo of the 2 will be best for a sustainable cryptocurrency future. *disclaimer: I own no ASIC hardware, just offering my opinion. I also think the 2 year estimation for ASIC introduction to X11 is pretty far off. Considering DarkCoin is trading in the $10-$13 USD range and the popularity of other X11 coins I would expect it to happen sooner. Early next year if not the end of this year. Again, just my non-expert prediction. Either way, good news for now and looking forward to more mining. here is what ASIC are doing to the community so far. they are too expensive for a little guy to get an ASIC strong enough to compete with current hashrate. Not to mention never even ROI. So unless you spend over $10,000s you will not make it. This creates a harsh centralization of miners. Only the big boys win the game and makes is less appealing for little guys. Look at our pools. our miners were getting thinner. probably since scrypt was running too hot on summer. The moment Karma rises , all the asic users jump on our network. We go from 1.2 Gh/s to 3.4 Gh/s. Which makes the small time miners even more frustrated because of the high difficulty jump. look at this way. if i have $2000 i can set up a 2-3 Mh/s GPU miner or a 20 Mh/s Asic miner. You can see the imbalance ASIC offer. Miners would invest in GPUS more because at least they can use it for games or sell it back with %50 gain. but with asic you have 1-2 months to make roi and then its worthless. By going to X11 all the GPU miners will have few more months to mine the coin in fair game. By then the ASICs will be much cheaper and they should be able to afford to switch to ASIC. Also China mines love x11. they will jump in and will start to create additional trading market in their side of the world. Maybe we will finnally break in their exchanges. Like Bter.com and others : ) |
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easteagle13
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June 27, 2014, 06:16:03 PM |
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Nice! Long time Karma supporter here (just not vocally on the forums, but a little over on reddit). I like the move to X11 from an energy efficiency viewpoint but it feels more like an anti-ASIC move. ASIC's are far more energy efficient than GPU's or CPU's so a combo of the 2 will be best for a sustainable cryptocurrency future. *disclaimer: I own no ASIC hardware, just offering my opinion. I also think the 2 year estimation for ASIC introduction to X11 is pretty far off. Considering DarkCoin is trading in the $10-$13 USD range and the popularity of other X11 coins I would expect it to happen sooner. Early next year if not the end of this year. Again, just my non-expert prediction. Either way, good news for now and looking forward to more mining. here is what ASIC are doing to the community so far. they are too expensive for a little guy to get an ASIC strong enough to compete with current hashrate. Not to mention never even ROI. So unless you spend over $10,000s you will not make it. This creates a harsh centralization of miners. Only the big boys win the game and makes is less appealing for little guys. Look at our pools. our miners were getting thinner. probably since scrypt was running too hot on summer. The moment Karma rises , all the asic users jump on our network. We go from 1.2 Gh/s to 3.4 Gh/s. Which makes the small time miners even more frustrated because of the high difficulty jump. look at this way. if i have $2000 i can set up a 2-3 Mh/s GPU miner or a 20 Mh/s Asic miner. You can see the imbalance ASIC offer. Miners would invest in GPUS more because at least they can use it for games or sell it back with %50 gain. but with asic you have 1-2 months to make roi and then its worthless. By going to X11 all the GPU miners will have few more months to mine the coin in fair game. By then the ASICs will be much cheaper and they should be able to afford to switch to ASIC. Also China mines love x11. they will jump in and will start to create additional trading market in their side of the world. Maybe we will finnally break in their exchanges. Like Bter.com and others : ) +1 cryptowho, you always take the welfare of our miners into good consideration. |
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luqas0891
Newbie
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Activity: 48
Merit: 0
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June 27, 2014, 06:32:33 PM |
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by me sale KARMACOIN below 1000 listoshi is a huge mistake and I can not understand selling the 200, 200 listoshi is only 3-3.5 satoshi! It's like handing out money on the street. So far I still PURCHASE  If you jump on the X11 as I wrote a long time ago!, We should talk to the creator of XC launched its own multipool http://www.hashevolved.com may want to join and perhaps we should create its mines and sell other currencies and buy up other KARMA from the market which will stabilize the price and pay the KARMA |
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pugwilfy
Member
Offline
Activity: 117
Merit: 10
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June 27, 2014, 06:35:11 PM |
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can anyone help me understand what "stratum from pool 0 requested work restart" mean when mining on a p2p pool please
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Instamatic
Newbie
Offline
Activity: 56
Merit: 0
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June 27, 2014, 06:38:13 PM |
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here is what ASIC are doing to the community so far. they are too expensive for a little guy to get an ASIC strong enough to compete with current hashrate. Not to mention never even ROI. So unless you spend over $10,000s you will not make it. This creates a harsh centralization of miners. Only the big boys win the game and makes is less appealing for little guys.
Look at our pools. our miners were getting thinner. probably since scrypt was running too hot on summer. The moment Karma rises , all the asic users jump on our network. We go from 1.2 Gh/s to 3.4 Gh/s. Which makes the small time miners even more frustrated because of the high difficulty jump.
look at this way. if i have $2000 i can set up a 2-3 Mh/s GPU miner or a 20 Mh/s Asic miner. You can see the imbalance ASIC offer. Miners would invest in GPUS more because at least they can use it for games or sell it back with %50 gain. but with asic you have 1-2 months to make roi and then its worthless.
By going to X11 all the GPU miners will have few more months to mine the coin in fair game. By then the ASICs will be much cheaper and they should be able to afford to switch to ASIC.
Also China mines love x11. they will jump in and will start to create additional trading market in their side of the world. Maybe we will finnally break in their exchanges. Like Bter.com and others : )
Not to be argumentative, but worrying about ROI on coins with a current value less than $.0002 USD is shortsighted, right? Cryptocurrency as a whole concept is a long term process. More than half of the population doesn't even know what it is. If we're in it for the quick money that's a different story. Karma created the Karmshares, LLC for long term potential. The BTC players are already looking to 2140 to devise structures & processes to handle the end of POW. At some point, we have to quit being so anti-technology when it comes to a sustainable network infrastructure that's important for transactions to process. Ideally, the production of ASIC hardware reaches a point where the suppliers outweigh the consumers and then you see more & more new user entry into the mining side. Not because they're getting rich off of it, but because they're getting anything from it. Consider if VISA allowed home PC users to run a small USB item that would generate any type of additional income for a nominal startup cost and minimal expense. A penny saved is a penny earned, afterall. If you end the day with more money than you had previously you're on the right path. Certainly there's heavy users & light users, but it all counts in the end. |
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Alphi
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June 27, 2014, 06:51:49 PM
Last edit: June 27, 2014, 07:07:34 PM by Alphi |
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Nice! Long time Karma supporter here (just not vocally on the forums, but a little over on reddit). I like the move to X11 from an energy efficiency viewpoint but it feels more like an anti-ASIC move. ASIC's are far more energy efficient than GPU's or CPU's so a combo of the 2 will be best for a sustainable cryptocurrency future. *disclaimer: I own no ASIC hardware, just offering my opinion. I also think the 2 year estimation for ASIC introduction to X11 is pretty far off. Considering DarkCoin is trading in the $10-$13 USD range and the popularity of other X11 coins I would expect it to happen sooner. Early next year if not the end of this year. Again, just my non-expert prediction. Either way, good news for now and looking forward to more mining. even though you consider yourself a non-expert your comments are pretty much spot on. Any kind of PoW that uses an algo not in the X11 or scrypt groups (e.g. X13) may make it economically unviable to produce an ASIC for the next 2 years but we may yet see X11 ASICs this year. though I am not opposed to X11 per se.. I am wondering how such an important decision was made without a community vote. I am also not sure that the bigger issue of too frequent block reward halving is going to be fixed by a switch to X11. in the interests of stability I would push for a more granular and and much more gradual reduction in block rewards. if I was going to design a new coin today I would pick something like block reward goes down 1% every month or 10% every year. I have not done the math but something that has a much more gradual decline in reward yet keeps to the original coin count projections over the next 5-10 years would give the market more stability. I don't know if that holy grail is even possible this late in the game but it is definitely worth a little research. Ideally in the long term I (as a coin investor) would want to see the supply of new coins to increase by less than the official inflation rate of the USD this would guarantee that there is always some very slight upward pressure on the price even if nothing is happening in the crypto community. this would be ideal regardless of if a coin was PoW or PoS or whatever. how to live with such low coin creation rate yet still keep the miners/speculators interested.. that is the real crux of the matter. I will agree that GPU (X11 etc) mining is a much fairer way to get a broader distribution of coins to new people. asking people to buy the coins outright (PoS) or buy specialised hardware (ASICs) is always going to be a barrier to entry for people who are new to the idea of crypto currency. imagine having a new religion (or social organisation) where you had to pay to join or you had to buy a new outfit just to be recognised as a member... the kinds of organisations that are free for anyone to participate are the ones that grow fastest. |
KARMA: KSc9oGgGga1TS4PqZNFxNS9LSDjdSgpC1B VERT: VgKaooA5ZuLLUXTUANJigH9wCPuzBUBv9H
DOGE: DRN7pXid34o6wQgUuK8BoSjWJ5g8jiEs4e
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pugwilfy
Member
Offline
Activity: 117
Merit: 10
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June 27, 2014, 07:02:21 PM |
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ok thanks for that, so it's normal to see that. so this screenshot is this what you would typically see and i am acctually contributing to hash power?  also curious why A/R doesnt show any numbers?? |
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